In the event that any state or local tax is held by a court of competent jurisdiction to be invalid in its application to national banks, as a class, such tax shall not thereafter be assessed against state banks.
Code 1950, § 58-485.03; 1980, c. 578; 1984, c. 675.
Structure Code of Virginia
Chapter 12 - Bank Franchise Tax
§ 58.1-1202. Bank capital assessable
§ 58.1-1204.1. Proration for new banks
§ 58.1-1205. Computation of net capital
§ 58.1-1206. Deductions from gross capital
§ 58.1-1207. Filing of return and payment of tax
§ 58.1-1212. Record of deposits through branches required
§ 58.1-1213. Credit against state tax for amounts paid cities, towns and counties
§ 58.1-1214. Auditing of returns
§ 58.1-1215. Banks in liquidation
§ 58.1-1216. Penalty upon bank for failure to comply with chapter
§ 58.1-1217. State banks and national banks treated the same in matter of taxation